347 Dewitt LnSpring LakeMI49456
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Spring Lake at 347 Dewitt Ln, Spring Lake, MI, 49456 offers a 12.61% rental yield on a $349,900 purchase with $3,677/mo rent. Total monthly income registers $3,677/mo, and a $1,713/mo payment leaves $1,369/mo available for distribution. Annual cash flow reaches $16,430/yr on $115,992 to close, and return on cash invested stands at 34.07% in year one. Equity gained on principal adds $2,258/yr while 5% annual appreciation supports $96,671 over five years. Portfolio math shows five-year ROI at 179.37% and total cumulative return in cash at $208,050. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,677/mo property income against a $1,713/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1953
0.30 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49456, Spring Lake, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,935 (100%) |
| Owner Occupied HU | 7,221 (72.7%) |
| Renter Occupied HU | 1,752 (17.6%) |
| Vacant Housing Units | 962 ( 9.7%) |
| Median Home Value | $380,316 |
| Average Home Value | $448,608 |
Housing Distribution
Address Breakdown
Residential
9,324
Single Family
8,560
Multi-Family
764
Businesses
493
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Listed by: Laurie Zokoe • Five Star Real Estate (Tallmadge)
Mls Name: MichRIC
Mls ID: #25020845